The Cable Directory

A call off frame contract has been obtained from BP Angola in support of a development programme offshore Angola. The initial contract call off has been signed for early engineering and fabrication works to support enhanced local fabrication capability in the region.

Subject to Project Sanction, the call off for the first FPSO will be issued the 2nd half of 2009. Subsequent FPSOs may be called off subject to future projects sanction. Further contract details will follow in due course.

2. Total Angola PAZFLOR Offloading System

A consortium of SBM Offshore and APL (part of BW Offshore) has been awarded a Letter of Award by Total E&P Angola for the Engineering, Procurement, Supply, Construction and Installation (EPSCI) of the Oil Loading System on the PAZFLOR project.

The SBM Offshore scope of work consists of:

- Engineering, Procurement and Supply of the (2) Oil Offloading Lines, to be based on the TrellineTM, a large diameter reinforced bonded rubber hose, which will be suspended between the FPSO and the deep water CALM buoy;

- Offshore installation of the complete Oil Loading System.

3. Cranes and Jacking Systems for Windmill Installation Vessels

An order has been received from Resolution Shipping Ltd (Cyprus), a subsidiary of Vroon Group, for the supply of two 1,000 ton cranes and two jacking systems, with a total jacking capacity of 22,500 tons each, for two wind turbine installation jack-up vessels (SBM Offshore design).

The combined portfolio value of the orders mentioned under 2 and 3 above represent approximately 230 million US Dollars.

4. Financial Agenda

5. Corporate Profile

The Dutch public company SBM Offshore N.V. is the holding company of a group of international, marine technology orientated companies. Its business is to serve on a global basis the offshore oil and gas industry by supplying engineered products, vessels and systems, and offshore oil and gas production services.

The product line comprises:

• Offshore import/export terminals for crude oil, refined products, LPG and LNG, mostly based on the single point mooring principle, Floating Production and/or Storage and Offloading systems (FSOs and FPSOs) and other floating production facilities based on ship hulls, semisubmersibles and Tension Leg Platforms (TLPs);

• Offshore oil and gas production services through the leasing of integrated production and storage facilities owned and operated by the Company;

• Design, construction and supply of semi-submersible drilling platforms;

• Special designs and engineering services and delivery of specific hardware components for dynamically positioned drillships, semi-submersible drilling platforms, jack-up drilling platforms, jack-up platforms for civil construction, large capacity offshore cranes, elevating and lifting systems, crane vessels and other specialised work vessels;

• Offshore construction and installation contracting services.